The price of Mantle (MNT) has surged more than 24% over the last 24 hours, reclaiming the $1 mark. Positive news regarding Mantle Network infrastructure has been the main driver of this growth.
Price Surge of Mantle
MNT has reached a price of $1.08 after successfully breaking the resistance at $0.9290. However, the current chart suggests a steep rising wedge, which is typically viewed as a bearish signal in the longer timeframe. Indicators suggest a potential correction in the near future.
Health of Mantle Ecosystem
The official Mantle account on the X platform reported on the synergy between Bybit and other ecosystems aimed at accelerating the development of the Mantle Network infrastructure. Ben Zhou, Co-Founder & CEO of Bybit, emphasized his vision for Mantle Network 2.0: "We'll see more synergy between Bybit, Mantle, and other ecosystems to accelerate the whole process of Mantle Network's infrastructure." It was also noted that the Pendle (PENDLE) token has re-entered the top 10 in terms of TVL, indicating a rising bullish sentiment within the Mantle ecosystem.
Forecast and Key Price Levels
If the price of MNT continues to rise and surpasses the $1.1050 level, a further rally to $1.21 and potentially towards $1.30 may occur. On the other hand, if price faces resistance, testing support at $0.9290 and $0.8540 could happen. In extreme cases, the price might drop to $0.7550.
Mantle (MNT) prices are fluctuating significantly amid positive news and ecosystem activation. Monitoring key support and resistance levels will be crucial as they could dictate future price movements.
